East Asia: stainless steel market is growing

The Asian economy has a great potential for growth, and in particular the stainless steel market is developing rapidly.

According to the latest analysis, prices for benchmark 304 stainless steel, 2mm trimmed cold-rolled coil, was $2,230-2,310 per tonne. The Asian countries most affected by this growth are Vietnam, Indonesia and the Philippines. Here the most  industry players are expanding efficiently their capacity and investments, exploring new areas such as stainless steel processing, infrastucture projects and autosheet in Indonesia. Vietnam’s steel industry, in particular, has high potential to reach a production growth rate of 22% and expand export markets this year. All the investments in the East Asian stainless steel market have been driven by demand, which continues to grow strongly across in almost the entire region.

Viganò International ensures the best results in the stainless steel processing and cutting. Visit the website www.vigano.international to know all the information about the company, its services and solutions.

 

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